Pathways Alliance (Pathways) is continuing to move forward with its proposed Carbon Capture and Storage (CCS) project.
The company, made up of Canada’s six largest oil sands producers, says they are making strides on multiple simultaneous projects. They hope to eventually capture and sequester 22 million tonnes of CO2 emissions from the oil sands every year.
Pathways says its largest near-term focus is on its proposed CCS project. Significant engineering, subsurface evaluation, and environmental fieldwork have been completed in preparation for regulatory applications which are expected to soon commence.
“We’re taking all the steps needed to ensure this project is ready to go once we have the critical regulatory policies and co-investment commitments from governments that are necessary for our sector to remain cost-competitive with other oil-producing regions around the world while we reduce emissions,” said Pathways Alliance President Kendall Dilling.
When completed the project will be one of the world’s largest carbon capture networks, which Pathways says will play a key role in helping Alberta and Canada become net-zero in the future.
The plan is proposing more than $24 billion of investment in the next six years; split between the development of a carbon capture network and investing in emissions reduction technologies.
“The emissions reduction efforts of Pathways Alliance members, working together with governments, will help ensure the oil sands sector can continue to provide hundreds of thousands of jobs across Canada, tens of billions of dollars in annual revenues for governments, and the energy security needed for Canada and globally for decades to come,” said Dilling.